The latest acquisition moves Bollington closer to its £170m GWP target
Independent broker Bollington Insurance has completed its acquisition of Ashgrove Insurance Services, a Greater Manchester-based broker.
The transaction has been designed to expand Bollington’s range of products and services, which spans corporate, commercial, wholesale and personal lines.
Moreover, it puts Bollington closer to reaching its target 450 employees and the £170m gross written premium (GWP) mark; the business plans to undertake further acquisitions and growth in 2020, backed by private equity house Inflexion.
Ashgrove has been trading since 1981 - the organisation stated that it has built a strong presence in Greater Manchester for providing polices to small to medium-sized enterprises (SMEs) throughout the region.
The firm will continue to operate from its existing offices in Ashton-under-Lyne, adding to Bollington’s offices in Greater Manchester, Macclesfield and Liverpool as well as the broker’s nationwide team of account managers.
Good fit
Paul Moors, chief executive of Bollington, welcomed the added experience of the Ashgrove management team and staff to its group.
“This acquisition fits well with our model of providing quality insurance and services to niche markets, particularly in serving landlords, motor fleets and the manufacturing sector,” he said.
Moors continued by saying that he had known Stephen Duffy, Ashgrove’s managing director, for many years, “We share the same principles, growing our businesses in collaboration with others to offer our clients the best quality of service they can expect from their broker. It’s great to welcome them to Bollington and a new chapter of success for us all.”
Duffy added: “This is an exciting time for us all. Becoming a part of Bollington gives Ashgrove’s clients access to additional insurance products and the combined strength and experience of the wider group.
“Like Ashgrove, Bollington [is] renowned for offering a high-quality, personal service to all clients. We very much look forward to working together.”
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